Americans spend over $1,000 a year on lotto tickets

Despite the long odds, thousands of Americans will buy tickets for a chance to win. Consumers each spend an average of about $86 a month on lottery tickets, including everything from scratch-off cards that come out of vending machines to entries for the Powerball and Mega Millions competitions. Spending several hundred dollars a year on lottery tickets can make a big dent in your budget. Yet Americans earning less than $30,000 admit to spending about 13% of their income on lottery tickets, Bankr


Despite the long odds, thousands of Americans will buy tickets for a chance to win.
Consumers each spend an average of about $86 a month on lottery tickets, including everything from scratch-off cards that come out of vending machines to entries for the Powerball and Mega Millions competitions.
Spending several hundred dollars a year on lottery tickets can make a big dent in your budget.
Yet Americans earning less than $30,000 admit to spending about 13% of their income on lottery tickets, Bankr
Americans spend over $1,000 a year on lotto tickets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: megan leonhardt
Keywords: news, cnbc, companies, according, lottery, 1000, savings, things, spend, chance, clarke, month, spending, americans, lotto, tickets


Americans spend over $1,000 a year on lotto tickets

You have about a one in 302,575,350 chance of winning the Mega Millions $340 million jackpot that’s up for grabs in Friday night’s drawing.

To put that in perspective, you have a far greater chance of being attacked by a grizzly bear while on vacation at a U.S. National Park. And even that only happens every one in 2.7 million visits, according to the National Park Service.

Despite the long odds, thousands of Americans will buy tickets for a chance to win. About half of Americans play state lotteries, with total sales topping $71 billion in 2017 (the most recent year on file), according to the U.S. Census Bureau. Consumers each spend an average of about $86 a month on lottery tickets, including everything from scratch-off cards that come out of vending machines to entries for the Powerball and Mega Millions competitions.

Spending on lotto tickets adds up to about $1,038 each year per consumer, according to a recent survey commissioned by Bankrate of over 2,300 U.S. adults. It’s worth noting that Bankrate’s results are slightly higher than the $70 a month that the Bureau of Labor Statistics found the average American spent between the third quarter of 2017 and the second quarter of 2018.

Spending several hundred dollars a year on lottery tickets can make a big dent in your budget. Especially if your paycheck isn’t that big to begin with. Yet Americans earning less than $30,000 admit to spending about 13% of their income on lottery tickets, Bankrate found.

“$1 means different things to different people,” says Aaron Clarke, a certified financial planner with Halpern Financial. A person who makes $500,000 per year probably isn’t worried about $1,000 nearly as much as someone who makes $30,000. “That same $1,000 means much more to you when you make less,” Clarke says.

But this type of spending is far from an outlier. Compared to lottery ticket sales, Americans spend more each month on things such as cable, subscription boxes and rideshare apps like Uber and Lyft, as well as daily purchases such as lunch, takeout dinners and drinks with friends. Impulse purchases alone amount to $109 per month, according to a poll of 2,000 U.S. adults commissioned by Ladder and conducted by OnePoll in April.

There are psychological reasons why Americans continue to play the lottery even though they know the odds, writes Penn State psychology professor Kevin Bennett. Humans are wired to have unrealistic optimism when it comes to the probability of something happening, for one.

It’s also a habit that’s easy to rationalize, since a chance to play typically only sets you back a buck or two. “Similar to smoking, the lottery is easier to justify when you only buy one pack at a time or one ticket every day,” Bennett writes. “It looks a lot less tempting, though, when you consider the total sum of money spent.”

If you are looking to curb your spending on guilty pleasures like lottery tickets, Clarke recommends creating a long-term financial plan that can then be broken down into a monthly budget. “If someone would like to accomplish other things like college savings, retirement savings or paying off debt, then having the plan to refer to helps remind you that they have a higher priority than this spending,” Clarke says.

The most important thing to remember is to ask yourself: Did I plan for this purchase? If you did, and you’re still meeting all the other expenses and savings goals you have in place, then spending $1,000 on lottery tickets really isn’t as impactful, Clarke adds.

Don’t miss: Here are 3 mistakes to avoid if you win a jackpot

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Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: megan leonhardt
Keywords: news, cnbc, companies, according, lottery, 1000, savings, things, spend, chance, clarke, month, spending, americans, lotto, tickets


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Watch Christine Lagarde speak at debut ECB press conference

Christine Lagarde is speaking in Frankfurt, Germany, for her first press conference as president of the European Central Bank. The former International Monetary Fund chief took the helm at the euro zone’s top financial institution last month. Analysts say she will also likely need to mend divisions at the bank over its recent policy measures under former President Mario Draghi. Global central banks have been easing mode this year, as the headwinds of U.S.-China trade tensions and signs of econom


Christine Lagarde is speaking in Frankfurt, Germany, for her first press conference as president of the European Central Bank.
The former International Monetary Fund chief took the helm at the euro zone’s top financial institution last month.
Analysts say she will also likely need to mend divisions at the bank over its recent policy measures under former President Mario Draghi.
Global central banks have been easing mode this year, as the headwinds of U.S.-China trade tensions and signs of econom
Watch Christine Lagarde speak at debut ECB press conference Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: cnbccom staff
Keywords: news, cnbc, companies, christine, month, germany, watch, speak, likely, ecb, press, signs, debut, conference, banks, president, easing, lagarde, policy, euro, central


Watch Christine Lagarde speak at debut ECB press conference

[The stream is slated to start at 08:30 ET. Please refresh the page if you do not see a player above at that time.]

Christine Lagarde is speaking in Frankfurt, Germany, for her first press conference as president of the European Central Bank.

The former International Monetary Fund chief took the helm at the euro zone’s top financial institution last month. She has committed to holding the ECB’s first policy review in 16 years. Analysts say she will also likely need to mend divisions at the bank over its recent policy measures under former President Mario Draghi.

Global central banks have been easing mode this year, as the headwinds of U.S.-China trade tensions and signs of economic weakness grip businesses and investors. The ECB reinstated its quantitative easing program and cut interest rates on bank reserves to -0.5% earlier this year, much to the dismay of some policymakers at the bank.

Investors are likely to monitor Lagarde’s presser for any signs as to the bank’s outlook for the euro zone and forward guidance. Europe’s economy has experienced sluggish growth this year, particularly on the back of a slowdown in Germany. Last month, data showed the country narrowly avoiding a technical recession in the third quarter.

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Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: cnbccom staff
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TikTok chief, facing criticism over China ties, cancels meetings with US lawmakers

TikTok chief Alex Zhu is postponing meetings with U.S. lawmakers that were originally expected to take place this week, the company confirmed late Monday. TikTok had requested meetings with lawmakers as the company faces mounting scrutiny over its ties to China. Lawmakers have suspected the company censors content in line with Chinese officials’ preferences and that user data could be accessed by the Chinese government. In his first interview as chief of TikTok last month, Alex Zhu refuted all a


TikTok chief Alex Zhu is postponing meetings with U.S. lawmakers that were originally expected to take place this week, the company confirmed late Monday.
TikTok had requested meetings with lawmakers as the company faces mounting scrutiny over its ties to China.
Lawmakers have suspected the company censors content in line with Chinese officials’ preferences and that user data could be accessed by the Chinese government.
In his first interview as chief of TikTok last month, Alex Zhu refuted all a
TikTok chief, facing criticism over China ties, cancels meetings with US lawmakers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-10  Authors: lauren feiner william feuer, lauren feiner, william feuer
Keywords: news, cnbc, companies, month, ties, criticism, cancels, requested, chinese, zhu, user, company, meetings, told, lawmakers, data, facing, tiktoks, china, chief, tiktok


TikTok chief, facing criticism over China ties, cancels meetings with US lawmakers

TikTok chief Alex Zhu is postponing meetings with U.S. lawmakers that were originally expected to take place this week, the company confirmed late Monday.

“TikTok has no higher priority than ensuring Congress Members’ questions are addressed fully and transparently. To ensure these conversations are as productive as possible, we’re looking forward to holding these meetings after the holidays,” a spokesperson said in a statement.

TikTok had requested meetings with lawmakers as the company faces mounting scrutiny over its ties to China. Lawmakers have suspected the company censors content in line with Chinese officials’ preferences and that user data could be accessed by the Chinese government.

TikTok has repeatedly denied this is the case. In his first interview as chief of TikTok last month, Alex Zhu refuted all allegations of political censorship on the app. He told The New York Times that were China’s top official, Xi Jinping, to ask Zhu to remove a video or hand over user data, “I would turn him down.”

Sen. Josh Hawley, R-Mo. tweeted Tuesday night that TikTok cancelled the meeting scheduled for this week. He also implied that the company was taking orders from its Chinese parent company not to meet with U.S. lawmakers.

The U.S. Army has barred soldiers from using the app following a national security concern and TikTok’s Chinese parent ByteDance faces a national security review from the Committee on Foreign Investment in the U.S. (CFIUS) over its 2017 acquisition of TikTok precursor Musical.ly, a person familiar with the matter previously told CNBC.

Sen. Marco Rubio, R-Fla., requested the review, claiming in a letter to Treasury Secretary Steven Mnuchin there is “ample and growing evidence that TikTok’s platform for Western markets, including the U.S., is censoring content that is not in line with the Chinese Government and Communist Party directives.”

Rubio’s office declined a meeting TikTok requested with the senator, a congressional aide told CNBC. Zhu was scheduled to meet with Sen. Marsha Blackburn, R-Tenn., her office told CNBC. Blackburn wrote Zhu last month that she feared the app, popular with a younger demographic, “is paving the way for the Chinese government to gain unfettered and unsupervised access to our children’s lives.”

Despite TikTok’s claims it does not allow Chinese officials access to user data or censor content in line with the Chinese government’s views, recent controversies have opened room for doubt. In a class-action suit filed last month, for example, a California student accused the company of secretly collecting data on users and transferring private user data to China.

Also last month, head of safety at TikTok Eric Han apologized to a 17-year-old user in New Jersey after the company disabled access to her account and briefly removed one of her viral videos in which she discussed China’s mistreatment of the Uighur ethnic minority. Critics seized upon the instance as evidence of the app’s censorship on behalf of the Chinese Communist Party.

Han said TikTok was reviewing the procedure that led to the removal and said the company would create “carve-outs for things like education and satire, as other platforms do.”

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WATCH: TikTok sued in California for accusations of data transfer to China


Company: cnbc, Activity: cnbc, Date: 2019-12-10  Authors: lauren feiner william feuer, lauren feiner, william feuer
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History shows Dow, S&P and Nasdaq could be in for another huge run in 2020

The markets soared heading into the final month of the year, with the S&P 500 gaining over 25% in the first 11 months of 2019. Since 1990, the S&P 500 has gained at least 20% from January through November on six other occasions, and following those years, the U.S. stock market boom continues across all three of the major domestic equity indices. The S&P 500, Dow and Nasdaq Composite have turned in big years — measured in the December to December annual period — 100% of the time after similar S&P


The markets soared heading into the final month of the year, with the S&P 500 gaining over 25% in the first 11 months of 2019.
Since 1990, the S&P 500 has gained at least 20% from January through November on six other occasions, and following those years, the U.S. stock market boom continues across all three of the major domestic equity indices.
The S&P 500, Dow and Nasdaq Composite have turned in big years — measured in the December to December annual period — 100% of the time after similar S&P
History shows Dow, S&P and Nasdaq could be in for another huge run in 2020 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-10  Authors: george manessis
Keywords: news, cnbc, companies, month, run, shows, nasdaq, huge, gains, average, big, history, 2020, stocks, 500, dow


History shows Dow, S&P and Nasdaq could be in for another huge run in 2020

Stocks kicked off the month of December with a losing streak, but despite the bumpy start — the Dow Jones Industrial Average shed more than 500 points in the first two trading days of the month — 2020 could be another big year for stocks, if history is any guide.

The markets soared heading into the final month of the year, with the S&P 500 gaining over 25% in the first 11 months of 2019. Since 1990, the S&P 500 has gained at least 20% from January through November on six other occasions, and following those years, the U.S. stock market boom continues across all three of the major domestic equity indices.

The S&P 500, Dow and Nasdaq Composite have turned in big years — measured in the December to December annual period — 100% of the time after similar S&P 500 gains through November. The S&P and Nasdaq gains have averaged above 18%, while the Dow has posted an average gain of 15%.

Of course, past performance does not guarantee future results. With the 2020 presidential election on the horizon, this time could be different.


Company: cnbc, Activity: cnbc, Date: 2019-12-10  Authors: george manessis
Keywords: news, cnbc, companies, month, run, shows, nasdaq, huge, gains, average, big, history, 2020, stocks, 500, dow


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This brilliant spending strategy is helping one couple pay off $400,000 in student loans in 5 years

Kayla, 32, and Ryan, 33, finished their graduate programs in 2014 with degrees in physical therapy and prosthetics and orthotics, respectively — and a combined 24 student loans. The principal on the couple’s student debt added up to $336,676.17 and it has kept growing, with interest averaging 6.5% across all of their loans. To help them focus on debt repayment, the couple turned to a new spending strategy: a zero-based budget, where your income minus your expenses equals zero and there’s no room


Kayla, 32, and Ryan, 33, finished their graduate programs in 2014 with degrees in physical therapy and prosthetics and orthotics, respectively — and a combined 24 student loans.
The principal on the couple’s student debt added up to $336,676.17 and it has kept growing, with interest averaging 6.5% across all of their loans.
To help them focus on debt repayment, the couple turned to a new spending strategy: a zero-based budget, where your income minus your expenses equals zero and there’s no room
This brilliant spending strategy is helping one couple pay off $400,000 in student loans in 5 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-10  Authors: ivana pino
Keywords: news, cnbc, companies, month, zerobased, strategy, student, ryan, spending, pay, budget, debt, income, loans, couple, 400000, kayla, helping, brilliant, theyve, andersons


This brilliant spending strategy is helping one couple pay off $400,000 in student loans in 5 years

For Kayla and Ryan Anderson, “zero” doesn’t just represent their goal of being debt-free. It’s also a key number in the spending strategy they’re using to get there. Kayla, 32, and Ryan, 33, finished their graduate programs in 2014 with degrees in physical therapy and prosthetics and orthotics, respectively — and a combined 24 student loans. The principal on the couple’s student debt added up to $336,676.17 and it has kept growing, with interest averaging 6.5% across all of their loans. Their four largest loans accrued interest at a rate of 7.9%. To help them focus on debt repayment, the couple turned to a new spending strategy: a zero-based budget, where your income minus your expenses equals zero and there’s no room for frivolous spending. They adopted it as part of a commitment to Dave Ramsey’s Seven Baby Steps, the second of which is to pay off all of your debt using the snowball method and knock out your smallest balances first. “It’s those structures and that system that have helped us learn a financial lifestyle that is sustainable,” says Kayla. “It’s not like a quick-fix diet.” More from Grow:

The one big decision that can help you get out of debt faster

3 simple ways to cut travel costs this holiday season

What’s best to buy from Costco for your holiday parties Since 2016, they’ve been chronicling their journey on the Instagram account @DumpingDebtWithDave, where they’ve shared their challenges and victories with over 6,000 followers, and connected with others who owed six figures. “What I’m finding is that we are not alone in this,” says Kayla. After almost five years, seven baby steps, one baby, 12 different jobs and countless hours of overtime, the Andersons have repaid $377,744, and are on track to pay off the remainder by December 2019. That means they’ll have paid back about $400,000 total in five years.

Strategy: A Zero-Based Budget

A zero-dollar based budget ensures that every cent is working towards a greater goal — in this case, being debt-free. Each month, the Andersons kick off their zero-based budget by calculating their combined income and breaking their expenses into different categories. Kayla, a physical therapist, and Ryan, a product development engineer, earn an average combined income of around $115,000 — although that number can fluctuate depending on how many overtime hours they pick up, and what Ryan brings in doing bike tuneups as a side hustle. When they sit down to do their monthly budget, they set micro-goals — like paying off $5,000 a month in debt — and check in on long-term goals, like paying off their debt in full by Christmas 2019. That way, even with income fluctuations, they’ve managed to maintain a strict budget that allows for that steep monthly loan payment.

Ryan Anderson drafts the family budget. Provided

Here’s what their zero-based budget looks like: Categories like food ($400), rent ($1,100), or transportation ($125) are “fixed” expenses that remain the same month to month. Everything else falls under “extras” which include their phone and internet bills ($30 apiece). They also put money aside for emergencies, like car repairs. And they include $50 ($25 each) for “fun money” in the budget to spend as they wish. After allocating funds into those categories, every extra penny goes towards debt, says Kayla. In most months, they put about $4,500 toward their balances. Any extra income from side hustles or tax refunds also goes to reducing their debt; their largest payment was $68,000 Ryan inherited from his grandmother. Having grown up without any real financial stability, Kayla says the desire to create security for her family has motivated her to maintain this tight budget for so long.

Celebration: Root beer

Each time the Andersons reach one of their micro-goals, like paying off one of their loans, they have a micro-reward. “It seems like such a small thing, but we go and we find the fanciest root beer we can find and we split it,” says Kayla. “We just talk about how far we’ve come, and we look back at our numbers and we dream about the future. That has definitely been a big motivator to keep us on the path.” The Andersons have also shared their major updates and successes with their Instagram followers. Their most recent post shared that they’ve met their micro-goal for the month of June: getting under $30,000 of debt. They plan to go big when they become debt-free. “We’re going to get a keg of root beer,” Kayla says. “We’re just going to celebrate with our friends and family who have supported us through this whole crazy journey.”

Opportunity: College, a home, and fancy shampoo


Company: cnbc, Activity: cnbc, Date: 2019-12-10  Authors: ivana pino
Keywords: news, cnbc, companies, month, zerobased, strategy, student, ryan, spending, pay, budget, debt, income, loans, couple, 400000, kayla, helping, brilliant, theyve, andersons


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Streaming services like Disney+ aren’t likely to make money ‘anytime soon,’ analyst says

The streaming wars got underway last month with the launch of Disney+, the media giant’s subscription service priced at $6.99 a month, a direct competitor to Netflix. But one analyst has warned that these services are unlikely to make money in the next five years, because the amount they will take in subscription fees won’t exceed the sums needed to make new content. According to Brian Wieser, GroupM’s global president of business intelligence, streaming services will spend an extra $4 billion e


The streaming wars got underway last month with the launch of Disney+, the media giant’s subscription service priced at $6.99 a month, a direct competitor to Netflix.
But one analyst has warned that these services are unlikely to make money in the next five years, because the amount they will take in subscription fees won’t exceed the sums needed to make new content.
According to Brian Wieser, GroupM’s global president of business intelligence, streaming services will spend an extra $4 billion e
Streaming services like Disney+ aren’t likely to make money ‘anytime soon,’ analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: lucy handley
Keywords: news, cnbc, companies, analyst, report, billion, disney, spending, fees, soon, wieser, arent, money, services, month, subscription, likely, streaming, anytime


Streaming services like Disney+ aren't likely to make money 'anytime soon,' analyst says

The streaming wars got underway last month with the launch of Disney+, the media giant’s subscription service priced at $6.99 a month, a direct competitor to Netflix. Meanwhile, AT&T’s HBO Max and Comcast’s Peacock are set to follow in the coming months.

But one analyst has warned that these services are unlikely to make money in the next five years, because the amount they will take in subscription fees won’t exceed the sums needed to make new content.

According to Brian Wieser, GroupM’s global president of business intelligence, streaming services will spend an extra $4 billion each a year on content, making a total of $20 billion by 2024, matching the incremental $20 billion in subscription fees GroupM estimates. GroupM is the media-buying arm of ad business WPP.

“There will only be so much money to go around for subscription fees. If consumers continue to increase their spending on all forms of video (which amounted to $140 billion last year for video services, cinema and DVDs) at historical rates through 2024, there will only be an incremental $20 billion in consumer spending available for new services. This is roughly equal to the amount of new spending on content that we estimate,” Wieser said in GroupM’s worldwide media forecast report, published Monday.

“This suggests that financial contributions from these new services will not be net positive anytime soon,” the report stated.

Netflix has already seen the impact of this, with a mixed earnings report in October that showed a beat on earnings but a miss on subscribers. In January, it increased its most popular HD streaming plan from $10.99 per month to $12.99 per month and said the price increase was partially to blame for its subscriber miss. It projected 7.6 million additional subscribers for its fourth quarter, versus 8.8 million for the same quarter a year earlier.


Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: lucy handley
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China exports fall for fourth consecutive month as Beijing demands tariff rollback as part of trade deal

Chinese Vice Premier and lead trade negotiator Liu He, right, reaches to shake hands with U.S. Trade Representative Robert Lighthizer before the opening session of trade negotiations at the Diaoyutai State Guesthouse in Beijing, Thursday, Feb. 14, 2019. China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. trade war but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand. Ov


Chinese Vice Premier and lead trade negotiator Liu He, right, reaches to shake hands with U.S. Trade Representative Robert Lighthizer before the opening session of trade negotiations at the Diaoyutai State Guesthouse in Beijing, Thursday, Feb. 14, 2019.
China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. trade war but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand.
Ov
China exports fall for fourth consecutive month as Beijing demands tariff rollback as part of trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-08
Keywords: news, cnbc, companies, month, billion, stimulus, demands, deal, earlier, exports, fall, consecutive, showed, compared, trade, growth, rollback, tariff, poll, surplus, fourth


China exports fall for fourth consecutive month as Beijing demands tariff rollback as part of trade deal

Chinese Vice Premier and lead trade negotiator Liu He, right, reaches to shake hands with U.S. Trade Representative Robert Lighthizer before the opening session of trade negotiations at the Diaoyutai State Guesthouse in Beijing, Thursday, Feb. 14, 2019.

China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. trade war but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand.

The 17-month long trade dispute has heightened the risks of a global recession and fueled speculation that China’s policymakers could unleash more stimulus as growth in the world’s second-largest economy cooled to nearly 30-year lows.

Overseas shipments fell 1.1% from a year earlier last month, customs data showed on Sunday, compared with a 1.0% expansion tipped by a Reuters poll of analysts and a 0.9% drop in October.

Imports unexpectedly rose 0.3% from a year earlier, marking the first year-on-year growth since April and compared with a 1.8% decline forecast by economists.

The better-than-expected import data may point to firming domestic demand after factory activity showed surprising signs of improvement recently, although analysts have noted the recovery could be difficult to sustain amid trade risks.

China’s trade surplus for November stood at $38.73 billion, compared with an expected $46.30 billion surplus in the poll and a $42.81 billion surplus recorded in October.


Company: cnbc, Activity: cnbc, Date: 2019-12-08
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German industry slump sparks renewed growth fears

Germany’s industrial output unexpectedly dropped in October, reviving worries about its economic growth outlook as its manufacturing backbone is hurt by global trade conflicts and disruption in the auto sector. Industrial output dropped 1.7% on the month against expectations for a 0.1% rise, Statistics Office figures showed on Friday. Production of capital goods slumped by 4.4% on the month, the steepest decline in more than five years. “Now the trepidation starts again about GDP growth in the f


Germany’s industrial output unexpectedly dropped in October, reviving worries about its economic growth outlook as its manufacturing backbone is hurt by global trade conflicts and disruption in the auto sector.
Industrial output dropped 1.7% on the month against expectations for a 0.1% rise, Statistics Office figures showed on Friday.
Production of capital goods slumped by 4.4% on the month, the steepest decline in more than five years.
“Now the trepidation starts again about GDP growth in the f
German industry slump sparks renewed growth fears Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, worries, economy, trade, sparks, growth, fears, gdp, dropped, weaken, yearseuropes, output, german, renewed, month, slump, industry


German industry slump sparks renewed growth fears

Germany’s industrial output unexpectedly dropped in October, reviving worries about its economic growth outlook as its manufacturing backbone is hurt by global trade conflicts and disruption in the auto sector.

Industrial output dropped 1.7% on the month against expectations for a 0.1% rise, Statistics Office figures showed on Friday. Production of capital goods slumped by 4.4% on the month, the steepest decline in more than five years.

Europe’s biggest economy is going through a soft patch as its export-oriented manufacturers struggle against a backdrop of trade friction, an ailing car industry and uncertainties over Britain’s planned departure from the European Union.

“Now the trepidation starts again about GDP growth in the final quarter,” said Jens-Oliver Niklasch, economist at Landesbank Baden-Wuerttemberg.

In its 10th successive year of growth, the economy has been relying on strong consumption as exports weaken, which resulted in a second-quarter GDP contraction of 0.2%.


Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, worries, economy, trade, sparks, growth, fears, gdp, dropped, weaken, yearseuropes, output, german, renewed, month, slump, industry


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Here’s where the jobs are — in one chart

The November 2019 employment report showed U.S. companies added way more jobs than expected during the month as mammoth gains in health care and social services — as well as a bounce in manufacturing hiring — ushered labor statistics higher. The government reported Friday that payrolls increased by 266,000, easily besting the 187,000 estimate economists polled by Dow Jones had forecast. CNBC studied the net changes by industry for November jobs based on data from the Labor Department contained i


The November 2019 employment report showed U.S. companies added way more jobs than expected during the month as mammoth gains in health care and social services — as well as a bounce in manufacturing hiring — ushered labor statistics higher.
The government reported Friday that payrolls increased by 266,000, easily besting the 187,000 estimate economists polled by Dow Jones had forecast.
CNBC studied the net changes by industry for November jobs based on data from the Labor Department contained i
Here’s where the jobs are — in one chart Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: thomas franck
Keywords: news, cnbc, companies, social, services, industry, net, month, health, labor, jobs, heres, chart, employment, care


Here's where the jobs are — in one chart

The November 2019 employment report showed U.S. companies added way more jobs than expected during the month as mammoth gains in health care and social services — as well as a bounce in manufacturing hiring — ushered labor statistics higher.

The government reported Friday that payrolls increased by 266,000, easily besting the 187,000 estimate economists polled by Dow Jones had forecast. The unemployment rate ticked back down to 3.5%, matching an earlier 2019 low that at the time was the lowest since 1969.

CNBC studied the net changes by industry for November jobs based on data from the Labor Department contained in the employment report.

The education and health care industry was by far the strongest during the month of November, adding over 70,000 jobs for the month.

The whopping gain for health care, in particular, further cemented its place as an employment juggernaut in the United States for the foreseeable future thanks to changing demographics and advances in medical technology.

The health care and social assistance subsector (including child daycare and family services) alone saw a net gain of 60,200 jobs, outpacing manufacturing’s best month for hiring since August 1998.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: thomas franck
Keywords: news, cnbc, companies, social, services, industry, net, month, health, labor, jobs, heres, chart, employment, care


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Chart suggests a year-end market rally will emerge as soon as next week

The market could be on the verge of a year-end rally. Hickey builds his bullish case in a chart that shows the intramonth performance of the S&P 500. Stocks typically don’t break out into a sustainable year-end rally until around Dec. 14, according to Hickey’s data. But the S&P 500 is still down 1 percent, and the Dow is off almost 1.5%. Hickey points out the S&P 500 has already soared almost 25% this year surrounded by trade jitters.


The market could be on the verge of a year-end rally.
Hickey builds his bullish case in a chart that shows the intramonth performance of the S&P 500.
Stocks typically don’t break out into a sustainable year-end rally until around Dec. 14, according to Hickey’s data.
But the S&P 500 is still down 1 percent, and the Dow is off almost 1.5%.
Hickey points out the S&P 500 has already soared almost 25% this year surrounded by trade jitters.
Chart suggests a year-end market rally will emerge as soon as next week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: stephanie landsman
Keywords: news, cnbc, companies, 500, month, market, soon, chart, suggests, trend, shows, hickey, stage, yearend, stocks, rally, emerge, week


Chart suggests a year-end market rally will emerge as soon as next week

The market could be on the verge of a year-end rally.

According to Bespoke Investment Group’s Paul Hickey, stocks generally stage their final push for the year in mid-December — even when the month starts off weak, as this one did.

“You would think you’d see strong performance throughout the month,” the firm’s co-founder told CNBC’s “Trading Nation” on Wednesday. “What we found is almost more so than any other month, December is a very back-end-loaded month, meaning the returns usually come towards the back half of the month.”

Hickey builds his bullish case in a chart that shows the intramonth performance of the S&P 500. He compares the current bull market to the overall trend between 1983 to 2018.

Since 1983, his chart shows December’s first two weeks often see muted returns. Stocks typically don’t break out into a sustainable year-end rally until around Dec. 14, according to Hickey’s data. That’s around the end of next week.

Even with last December’s plunge skewing the data, Hickey notes the historical trend is intact. So he’s confident the odds are in favor of a positive December despite the month’s choppy start.

“The market was extremely overbought heading into the month,” he said. “It was a healthy pullback. We didn’t see any major technical damage in the charts.”

The major indexes gained more than a half percent Wednesday and were pointing to higher opens on Thursday. But the S&P 500 is still down 1 percent, and the Dow is off almost 1.5%.

Hickey is confident stocks will rediscover upward momentum that will last into 2020.

He isn’t concerned climbing geopolitical risks, including the looming U.S. tariffs against China scheduled for Dec. 15, will disrupt the seasonal trend. Hickey points out the S&P 500 has already soared almost 25% this year surrounded by trade jitters.

Hickey cites a growing U.S. economy and a Federal Reserve keeping interest rates steady for his bullish outlook.

“These two positive things should set the stage for the market having a decent return,” Hickey said.

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Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: stephanie landsman
Keywords: news, cnbc, companies, 500, month, market, soon, chart, suggests, trend, shows, hickey, stage, yearend, stocks, rally, emerge, week


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